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Indian Economy Model Test 11 in English

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Indian Economy Model Test Questions 11 in English With Answer

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Question 1
The special Economic Zones Act was enacted in February 2006. Identify which is not the objective of the SEZ?
A
Generation of additional economic activity
B
Promotion of import
C
Creation of employment opportunities
D
Development of infrastructure facilities
Question 2
Consider the Statement and Reason , choose the correct answer from the codes given below.
  • Assertion(A): The Ratnakar Bank is referred to as NH4 Bank in the banking circles.
  • Reason(R): Majority of the business of the Bank comes from cities in and around NH4, which connects 10 popular cities.
A
Both (A) and (R) are correct, (R) is the correct explanation of (A)
B
(A) is true (R) is false
C
(A) is true, (R) is not the correct explanation of (A)
D
Both (A) and (R) are false
Question 3
How many major Indian private banks have been nationalized in 1969 during Indira Gandhi’s regime?
A
10
B
11
C
14
D
20
Question 4
Foreign aid can perform the following gap filling functions in UDCs.
  1. Savings gap
  2. Foreign Exchange gap
  3. Technological and Management gap
  4. Natural Resource gap
A
2 and 3
B
1, 2 and 3
C
1 and 2
D
2 only
Question 5
The growth of which one of the following remains an important objective  and necessary condition for inclusive growth?
A
Agriculture and allied sectors
B
Industrial sector
C
Services sectors
D
External sector
Question 6
Dunkel proposal was related to
A
GATT
B
UNO
C
IMF
D
IBRO
Question 7
Consider the following statements.
  • Statement I : Gross National Product will always be more than the GDP.
  • Statement II: To get GNP, net factor income from abroad is added to GDP.
Find the correct answer:
A
Both statements are individually true and statement II is the correct explanation of statement I.
B
Both the statements are individually true, but statement II is not correct explanation of Statement I
C
Statements I is true, but Statement II is false
D
Statements I is false, but Statement II is true
Question 8
Consider the following statement:
  • Assertion (A): Price policy aims at controlling fiscal deficit.
  • Reason (R): Fiscal deficit leads to inflationary pressure.
Which is correct answer?
A
(A) is correct but (R) is wrong
B
(A) is wrong but (R) is correct
C
Both (A) and (R) are wrong
D
(A) and (R) are correct and (R) is the correct explanation of (A)
Question 9
Which of the following state has the highest average growth rate in per capita Domestic Product in 2009-10 at 2004-05 prices?
A
Bihar
B
Tamil Nadu
C
Gujarat
D
Kerala
Question 10
Which of the following is correctly matched
  1. First Finance Commission - Chairman K. Santhanam
  2. Second Finance Commission – Chairman K.C. Neogy
  3. Third Finance Commission – Chairman A.K. Chandra
  4. Fourth Finance Commission – Chairman K. Brahmanand Reddy
A
I
B
II
C
III
D
IV
Question 11
West Bengal’s move of giving protection to share croppers is known as
A
Operation Barga
B
Green Operation
C
White Revolution
D
Operation Blue Star
Question 12
Who has given the alternative approach to Indian Planning at the time of the formulation of the Second Five Year Plan?
A
P.C. Mahalanobis
B
C.N. Vakil and P.R. Brahmananda
C
Nurkse
D
Schumpeter
Question 13
Which of the following is/are recommended for reducing inflation?
  1. Demand Management measures
  2. Supply Management measures
  3. Adjustment in trade and tariff policies
A
I only
B
I and II
C
I, II and III
D
III only
Question 14
Name the committee emphasized the need for substantial disinvestment in India in Public Sector Enterprises
A
Rangarajan Committee
B
Arjun Sengupta Committee
C
Tarapore Committee
D
Narasimham Committee
Question 15
Which of the following is correctly matched?
  1. Dual price - Govt. and Private prices
  2. PDS - Consumer Protection
  3.  Administered price     - Controlled price
  4. Fiscal Policy - Bank administration
A
I only
B
II only
C
I, II and III
D
IV only
Question 16
Consider the following statement. Choose the correct answer from the codes given below:
  • Assertion(A): Budget deficit is a serious concern.
  • Reason(R): Budget deficit leads to higher rate of growth of money supply.
A
Both (A) and (R) are individually true and (R) is the correct explanation of (A)
B
Both (A) and (R) are individually true but (R) is not the correct explanation of (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 17
  • Which of the following name represents this definition given below?
  • “As the cost if the commodity increases the price of the commodity increases”
A
cost-push inflation
B
demand – pull inflation
C
mark-up inflation
D
creeping inflation
Question 18
Consider the following statements:
  1. Share of agriculture and allied activities in GDP at current pries (99-2000) decreased from 30% to 20% (2007).
  2. Persons working in usual principal and subsidiary status increased from 57% to 64% in agriculture (2007).
  3. 3/5th of work force is still dependent on agricultural sector.
  4. Gini coefficient computation shows that in equality has increased from 0.43 to 0.48 (2007).
Choose the correct answer:
A
I and III are true
B
I, III and IV are true
C
I and II are true
D
All four statements are true
Question 19
Between the years 1981 to 2008, the share of value of agricultural output indicates
  1. a  decline in share of cereals
  2. an increase in the share of pulses
  3. an increase in the share of fruits and vegetables
  4. overall increase in oil seeds share value
Select the correct answer  using the code given below.
A
I only
B
I and III only
C
I, III and IV only
D
I, II , III and IV
Question 20
Consider the following statement. Choose the correct answer from the codes given below:
  • Assertion(A): There is a decline in economic activity during recession.
  • Reason(R): A sharp decrease in the growth rate of money supply most likely causes a decline in economic activity.
A
Both (A) and (R) are individually true but (R) is not the correct explanation of (A)
B
Both (A) and (R) are individually true and (R) can be correct explanation of (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 21
Order the following states according to the agricultural Income Tax they paid
A
Assam, Jammu and Kashmir , Mysore , TamilNadu, West Bengal
B
Jammu and Kashmir, Assam, TamilNadu, West Bengal, Mysore
C
Jammu and Kashmir, Assam, Tamilnadu, Mysore and West Bengal
D
West Bengal, Assam, Tamilnadu, Jammu and Kashmir, Mysore
Question 22
India’s economic growth rate in the tenth five year plan period was (2002-07)
  1. 4.5%
  2. 2. 6.5%
  3. 3. 8.0%
  4. 4. 7.6 %
A
3
B
4
C
2
D
1
Question 23
Consider the following statements in Indian Agricultural  Sector and choose the correct answer the using the code given below:
  1. States such as Assam, Bihar, West Bengal, Jharkhand and Up have contributed to increase in rice production in 2011-12 (Advanced Estimate)
  2. A significant high  level of food grains production was achieved in 2011-12
  3. The stock position of food grains in the central pool is inadequate to meet the requirements of targeted Public Distribution System, 2012.
A
I only
B
II only
C
I and II only
D
I, II and III
Question 24
Which of the following is/are wrong?
  1. Kisan Credit Cards for short term credit to farmers
  2. Micro-Finance for Self-Help Group (SHGs)
  3. Comprehensive Crop Insurance Scheme was started at 1985
  4. NABARD provides loan for housing sector
A
I only
B
II only
C
III only
D
IV only
Question 25
Match List I with List II and select the correct answer using the codes given below the lists:
  • List I                                             List II
  1. Disinvestment                            1. Foreign Firms
  2. MNC                                          2. Selling of Govt. Shares
  3. BOP(Balance Of Payment)       3. Planning Commission
  4. Dr. N.J. Kurian                           4. Foreign Trade
A
2 4 1 3
B
2 3 1 4
C
2 1 4 3
D
2 4 3 1
Question 26
The Nehru –Mahalanobis model gave active encouragement to ______ industries producing consumer goods.
A
heavy
B
light
C
small Scale and Cottage
D
none of the above
Question 27
Match
  1. National Planning                1. 2004
  2. New Industrial Policy           2. 1992
  3. 74th Amendment                  3.  1991
  4. 14th Loksabha Elections       4. 1938
A
4 2 3 1
B
3 1 4 2
C
2 3 1 4
D
4 3 2 1
Question 28
Consider the following statement. Choose the correct answer from the codes given below.
  • Assertion(A): When a nation’s money supply persistently increases at a faster rate than the nation can increase its output , inflation occurs.
  • Reason(R): Faster growth of money supply than output can raise living standards.
A
Both (A) and (R) are individually true and (R) is the correct explanation of (A)
B
Both (A) and (R) are individually true and (R) is not the correct explanation of (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 29
Money appears to have a major influence on
A
Inflation
B
Inflation and business cycle
C
Investment
D
Inflation, business cycle and investment
Question 30
Consider the following statements. Choose the correct answer from the codes given below:
  • Assertion(A): During periods of inflation people still hold money even when other assets are superior stores of value.
  • Reason(R): Money is a medium of exchange, liquid and divisible.
A
Both (A) and (R) are true but (R) is not an explanation for (A)
B
Both (A) and (R) are true and (R) is an explanation for (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 31
Consider the following statements:
  • A: Purchase of goods that will be used in the future to produce more goods and services.
  • B: Purchase of domestically produced goods by foreigners minus the domestic purchases of foreign goods.
What A and B  denote?
A
Consumption and investment
B
Consumption and investment
C
Government purchases and investment
D
Investment and net exports
Question 32
The first year plan of India was launched in
A
1947
B
1951
C
1956
D
1961
Question 33
Match List I with List II
  • List I                                             List II
  1. Rice production                1. Punjab and Haryana
  2. Wheat production           2. Coorg and Nilgiris
  3. Juste production              3. Uttar Pradesh and West Bengal
  4. Coffee plants                 4. West Bengal and Assam
A
1 2 4 3
B
2 1 4 3
C
1 3 4 2
D
3 1 4 2
Question 34
Registration of Partnership is
A
Compulsory
B
Optional
C
Not necessary
D
Not compulsory
Question 35
In India, the contribution of agricultural sector towards the Gross Domestic Product in 2012-2013 in
A
55.0 percent
B
38.0 percent
C
13.7 percent
D
31.7 percent
Question 36
  • Devaluation is a measure of monetary authority:
  • Which of the following item does match the below statement?
A
To reduce the foreign value of the domestic currency mainly to increase exports
B
To increase money supply
C
To increase the current account deficit
D
To contain inflation
Question 37
Which one of the following is not the feature of domecratic socialism?
A
A socialist society aims at the removal of poverty
B
No faith in a mixed economy
C
Aims at the reduction of inequalities of Income and wealth
D
Aims at the provision of equal opportunities to all
Question 38
Proposal to setup India’s first women bank was mooted in union budget
A
2013-2014
B
2012-2013
C
2011-2012
D
2010-2011
Question 39
Choose the following item that does not comprise under food subsidy in India
A
Subsidies to farmers through Support price
B
Subsidies to consumers through Public Distribution System
C
Subsidies to the Food Corporation of India
D
Subsidies to fertilizer
Question 40
Estimates of physical capital formation in India is done by
A
Central Statistical organization
B
Reserve Bank of India
C
State Treasury
D
Regional Banks
Question 41
Annual plans were implemented during the period
A
1962-1965
B
1965-1967
C
1966-1969
D
1967-1970
Question 42
Taxes raised are credited to
A
Consolidated fund
B
Contigency fund
C
Public account
D
Private account
Question 43
Disinvestment will not result in
  1. Releasing of public resources
  2. Reducing public debt
  3. Decreasing privatization
  4. Increasing employment
A
I and II only
B
III only
C
IV only
D
II and III only
Question 44
What is the gross capital formation as a percentage of GDP in India for the year 2012. 2013?
A
24%
B
28%
C
32%
D
34%
Question 45
In which plan period HYV seeds and New Agriculture strategy was adopted in Indian agriculture?
A
2nd plan
B
3rd plan
C
Annual plan
D
5th plan
Question 46
In an Economy “Too much of money chasing too few goods” – situation is called
A
Depression
B
Prosperity
C
Inflation
D
Deflation
Question 47
In TamilNadu, what was the share of primary sector in its Net State Domestic Product during 2012-13?
A
7.8%
B
8.9%
C
10.5%
D
12.0%
Question 48
The Gross Enrollment ratio in class 1 -  V for the years 2012-13 in Tami Nadu is:
A
124.3
B
115.5
C
111.8
D
180.8
Question 49
Inflationary gap was introduced by
A
J.M. Keynes
B
Marshall
C
J.R. Hicks
D
Fisher
Question 50
Match the List I with List II
  • List I                                 List II
  1. Mining                    1. Industry
  2. Construction           2. Service
  3. Real Estate             3. Agriculture
A
3 1 2
B
2 1 3
C
2 3 1
D
1 3 2
Question 51
Forward shifting of tax burden refers to the shifting of burden from
A
Producer to the buyer
B
Buyer to the producer
C
Buyer to the govt
D
Govt to the buyer
Question 52
The WPI dips to 1.8% in October 2014 against 2.4% in the preceeding month. What is WPI?
A
World Population Index
B
Women Population Index
C
Wholesale Price Index
D
Wholesale Price Inflation
Question 53
One of the main indications of under development is:
A
Population
B
Low per capita income
C
Natural resources
D
National income
Question 54
Consider the following two statements and answer accordingly.
  1. Since 1991, the role of Public Sector in India has been reduced.
  2. Public Sector in India has fulfilled its objectives.
A
Only I is true
B
Only II is true
C
Both I and II are true
D
Both I and II are false
Question 55
Major commercial banks of India were nationalized in
A
1969
B
1970
C
1971
D
1972
Question 56
Abolition of Intermediaries sis a component of which reform measures?
A
Economic reforms
B
Land reforms
C
Industrial reforms
D
Market reforms
Question 57
Given below are two statements, one labeled as : Assertion (A) and the other as Reason(R).
  • Assertion(A): Domestic savings in India always meet the investment demand.
  • Reason(R): Since  11991, Foreign Direct  Investment policy has been liberalized.
A
Both (A) and (R) are correct and (R) explains (A)
B
Both (A) and (R) are wrong
C
(A) is wrong, but (R) is correct
D
(A) is correct but (R) is wrong
Question 58
The Monopolies and Restrictive Trade Practices (MRTP) Act 1969 was replaced by which Act?
A
New Industrial Policy Act 1991
B
Foreign Exchange Management Act, 2000
C
Competition Act, 2002
D
Foreign Direct Investment Act, 2005
Question 59
Which tax is NOT an indirect tax?
A
Sales tax
B
Customs duty
C
Excise duty
D
Gift tax
Question 60
Match the following Finance Commissions with their Chairman:
  • Finance Commission                     Chairman
  1. Eleventh                              1. C.Rangarajan
  2. Twelfth                                 2. A.M. Khusro
  3. Thirteenth                            3. Vijay Kelkar
A
1 3 2
B
2 1 3
C
1 2 3
D
3 2 1
Question 61
What was the aim of the National Food Security Mission which was started in 2007-2008?
A
To increase the area under the cultivation of rice, wheat and pulses
B
To increase the production of rice, wheat and pulses
C
To increase the exports of rice, wheat and pulses
D
To reduce malnutrition in the country
Question 62
Finance Commission in India is appointed once in how many years?
A
Three
B
Four
C
Five
D
Six
Question 63
Unification of the domestic economy with the World Economy is known as
A
Liberalisation
B
Globalisation
C
Privatisation
D
Nationalisation
Question 64
In India Fiscal year starts from
A
31st March
B
1st April
C
30th April
D
1st March
Question 65
America’s Central Bank is
A
Federal Reserve Bank
B
Central American Bank
C
American Stock Exchange
D
Bank of America
Question 66
Narrow definition of money supply is
A
m1
B
m2
C
m3
D
m4
Question 67
Agricultural income is taxed by
A
Centre
B
State
C
Local authorities
D
Both Centre and State
Question 68
RBI was constituted for high level panels in Jan.  to study which bank?
A
Urban Co-operative Bank
B
Tamil Nadu Mercantile Bank
C
Rural Co-operative Bank
D
Karur Vysya Bank
Question 69
What percentage was distributed to rural developments in the Twelfth Five Year Plan?
A
4.5
B
3.5
C
6.0
D
7.0
Question 70
For what purpose, the Reserve Bank of India recently signed an agreement with Brazil?
A
Information sharing
B
Accounts of Black money
C
Printing of currency
D
New technology
Question 71
According to Economic survey 2009-10, during the tenth plan, annual average growth rate of NNP at 1999- 2000 prices was
A
6.7%
B
7.8%
C
4.4%
D
5.4%
Question 72
Which of the following statements about Education Expenditure is true for India?
  1. It rose from % of GDP in  1951-52 to 4.26 in 2000-01.
  2. It declined to 3.49% in 2004-05.
A
I alone true
B
II alone true
C
I and II are true
D
I and II are false
Question 73
Since 1955, the official annual National Income of India has been estimated by:
A
State Information Centre
B
National Sample Survey
C
Central Statistical Organisation
D
None of these
Question 74
What is the percentage share of India’s urban population in  census?
A
48.5 percent
B
45.2 percent
C
37.5 percent
D
31.2 percent
Question 75
The concept of sustainable development was developed by
A
UNDP Report
B
World Development Report
C
IMF Report
D
Brundtland Report
Question 76
Indicate the year in which National Food Security Mission [NFSM] was launched.
A
2004-2005
B
2001-2002
C
2007-2008
D
2010-2011
Question 77
What is the sectoral growth rate of service sector during Tenth plan?
A
7.87%
B
9.28%
C
10.12%
D
13.50%
Question 78
Which state in India has the highest Per Capita Income (2013)?
A
Kerala
B
Andhra Pradesh
C
Maharashtra
D
Punjab
Question 79
The Planning Commission of India recently announced the poverty use as:
  1. Rs. 42 per person per day for urban area.
  2. Rs. 26 per person per day for rural area
  3. Rs. 32 per person per day for urban  area
  4. Rs. 32 per day per person for rural areas
 
A
I and III
B
II and III
C
I and IV
D
III and IV
Question 80
Disinvestment is the process in rough which privation could take place
A
True
B
False
C
True in some situations
D
All of these
Question 81
More than 90% of the coal production in India is of
A
Coking coal
B
Non-coking coal
C
Turbire oil
D
None of these
Question 82
Net capital in flow is the difference between
A
Net domestic capital formation and net domestic savings
B
Gross capital formation and gross savings
C
Net export and net import
D
None of these
Question 83
State the order of the appointment of the following as Chairman of Finance Commission.
  1. K.C. Neogy
  2. K. Brahmanand Reddy
  3. N.K.P. Salve
  4. A.K. Chand
A
a, c, d
B
a, d, b, c
C
a, c, d, b
D
a, b, d, c
Question 84
During the Tenth Five Year Plan some of the following things were experienced:
  1. Service sector witnessed the highest growth rate.
  2. Agriculture experienced the lowest growth rate.
  3. Rate of growth in the industrial sector was negative.
Which of the above said statements are correct?
A
I and III are correct
B
II and III are correct
C
I and II are correct
D
I, II, III are correct
Question 85
In Tamil Nadu, the Plan Expenditure for 2014-15 has been set at
A
Rs. 32185 crore
B
Rs. 52185 crore
C
Rs. 42185 crore
D
65185 crore
Question 86
Who is the Director General of WTO?
A
Roberto Azevedo
B
Ulrich Spiesshofer
C
Paul Krugman
D
Paul Samuelson
Question 87
163 year old Indi’s Telegram service has come to an end in
A
June 2013
B
July 2013
C
January 2013
D
August 2013
Question 88
Where was WTO’s 9th ministerial conference held?
A
Delhi, India
B
Bali, Indonesia
C
Manila, Philippines
D
Colombo, Srilanka
Question 89
“Towards faster and more inclusive growth” is the title of
A
12th five year plan document
B
11th five year plan document
C
10th five year plan document
D
9th five year plan document
Question 90
Foreign Investment takes the form of :
  1. Foreign Direct Investment
  2. Foreign Portfolio Investment
  3. Foreign Development Assistance
  4. Foreign Loans
A
I and II
B
II and III
C
III and IV
D
I and IV
Question 91
RBI claims that inflation can be controlled by
  1. Raising Repo rate
  2. Raising Reverse Repo rate
  3. Increasing CRR
A
I only
B
I and II
C
III only
D
I, II and III
Question 92
The  66th round NSSO survey of employment shows that the vast majority of new jobs are created in _______
A
Casual employment
B
Skilled employment
C
Semi skilled employment
D
Formal employment
Question 93
The per capita income of India in 2011 was estimated at:
A
$ 1600
B
$ 1000
C
$ 1500
D
$ 950
Question 94
Match the following:
  • Name                                             CEO
  1. Satya Nadella                1. Pepsi Co.
  2. Indra Nooyi                   2. Microsoft
  3. Anshu Jain                   3. Reckitt Renckiser
  4. Rakesh Kapoor                4. Deutsche Bank
A
2 1 4 3
B
1 2 3 4
C
4 3 2 1
D
1 3 2 4
Question 95
The three dimensions of Human Development Index are : _______, ________ and ________.
A
Income, Sanitation and Infrastructure
B
Health, Education and Income
C
Food, Electricity and Housing
D
Health, Education and Energy
Question 96
Match the following:
  • List I                                                                     List II
  1. Mid day meals scheme                                    1. 2006
  2. Implementation of NREGA                              2. 1995
  3. Cash Reserve Ratio                                        3. Finance Commission
  4. Divisible taxes                                                4. Reserve Bank of India
A
1 2 3 4
B
2 1 4 3
C
4 2 3 1
D
3 4 1 2
Question 97
When was the Reserve Bank of India established?
A
1947
B
1969
C
1980
D
1935
Question 98
Choose the correct answer:
  • Which was the plan that began with the slogan of removal of poverty?
A
Second five year plan
B
Third five year plan
C
Fourth five year
D
Fifth five year
Question 99
Consider the following:
  • Assertion (A): Former Soviet Russia gifted planning to the world.
  • Reason(R): For it was the first country to practice successfully economic planning on a national seals.
Select your answer according to the coding scheme.
A
Both (A) and (R) are true and (R) is not the reason for (A)
B
(A) is true and (R) is not the reason for (A)
C
Both (A) and (R) are true and (R) is reason for (A)
D
Both (A) and (R) are false
Question 100
Under which five year plan the “Food for work Programme” was linked to NREP?
A
Third
B
Fourth
C
Fifth
D
Sixth
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